AMA Recap 404 Daily Crypto with Charitas
Hello 404 Daily Crypto community,
We recently hosted our 17th AMA with Charitas, on the 16th of April 2021, at 12:00 PM UTC (19:00 WIB). with our guest from Charitas team:
- Gabriel Tavares
- Steven Le Piane
- Charitas Knight
Many of you might have participated or many of not, So here we are up with the AMA transcript for those who missed the AMA session.
Introduction Questions Asked By 404 Daily Crypto team
Can you introduce yourself and your team please? We want get to know you and your team. What you did before crypto, and how you got into crypto?
Allow me to introduce the founding members of Charitas:
And myself, Stephen @charitasdev
Our team comes from diverse backgrounds. Steven has various marketing and charity experiences in his former employments and businesses. He is a fantastic partnership builder. Gabriel has a tech background as a cybersecurity expert and programmer. I come from the finance field as a CPA and former Big 4 auditor.
What we have in common is that we are long-time crypto enthusiasts and investors who have been following the space for the past several years.
What motivated us to start this project is that we recognized how powerful and revolutionary charity tokens can be for the betterment of the world. But we noticed that there exists a gap between this revolutionary technology and the real world. No one outside of crypto knows about it. Even most casual crypto investors are unaware of charity alternatives.
We designed our plan and roadmap to bridge this gap so that we could be the first recognizable brand in crypto charity.
Q1. Can you briefly describe what is Charitas? We would like to know more about it and how it works?
Charitas (the Latin root of charity) is a DeFi protocol built with the vision of democratizing charity to encourage transparency, honesty, and the effectiveness of charitable initiatives.
With the launch of the voting DAO. Charitas holders will vote on which charities are to receive donations from the Charitas Fund. This enables the community to weigh and allocate donations based on urgency, current events, crucial initiatives, etc.
Allocating donations based on community votes also promotes transparency and acts as a safeguard against corruption.
Even now as the app is in development, the community gets to vote on where charitable donations will be allocated.
We encourage you to stop by our telegram to participate:
How it works:
Supply: 1B before burns.
3% of every buy and sell transaction is taxed/removed
1% goes to the charity wallet
1% is added to liquidity
1% is paid as a dividend to all holders to incentivize holding
Q2. How was the idea to create this project born? It is very interesting. What do you want to achieve?What are your expectations?
We realized the potential of charity tokens that use DeFi and how they can impact the world for the better.
But we also noticed a gap between the current tokens out there and the real world. No one really knows about these charity tokens. Some of the reasons for this might be because it is still so very new. Others are because the charity aspect is just an afterthought or a ‘feature’ of a “meme coin”.
There are more serious charity protocols that exist, however, they are limited to the charity or cause that they represent. This limits their PR and media opportunities.
We wanted to create a “brand” that focuses on charity and allows the community to fund a wide variety of initiatives. We believed that this would enable this new token to gain more recognition in the real world and garner the media and attention that DeFi charity deserves.
This is why we created Charitas.
Q3. How has the experience and background of your team been effective in the success of your project so far?
~Steven Le Piane
Steven and Stephen have been following the BSC since it has started and we have seen how various protocols were designed with malicious intent. We created Charitas as an anti-rug pull token because we felt like it was the best way to bring the uniqueness of DeFi tokens to the world.
With a background as a behavioral analyst with the Government of Canada, I have been studying the ways people interact with foreign protocols, and teaching people about difficult concepts is my strong point. I can say with complete confidence that building this platform and onboarding charities will be a unique but worthy challenge for me.
As for Stephen, his background in Finance helped us devise a protocol that has the potential for longevity while maintaining utility.
Gabriel’s technical and security background helped us to build our website, our security infrastructure, and overall a solid team as he vetted all the work by our developers, which we are now working with to develop the app. He built a website that is scalable and will handle increasing demands.
Q4. Can you give an overview of $CHAR Token tokenomics?
Will the design of the token rise and fall with the success of the platform, does it include any scarce paths, such as equity, storage, or burning?
~Steven Le Piane
Working with a completely customizable DeFi token is a challenge and a blessing. With our non-mintable circulating supply and regular burn, we can assume that continued usage will increase the price over time. However, we believe that the 1% static reward distribution plays a larger role in allowing for widespread adoption and interest amongst new buyers on BSC. We understand many coins have chosen larger rewards and higher LP creation, but we fully stand by our decision because we know this gives us the best use case and the ability for listing on exchanges. We can still raise funds if listings require so. With our unique differentiating factors such as the voting Dapp and future launchpad, we know this protocol will become widely used.
Q5. Could you please provide some progress on your Roadmap and what results CHARITAS has achieved so far ? And any sneak peek into 2021 plans for CHARITAS?
As we are only one week into our launch, we have plenty of milestones and goals to achieve as part of our roadmap.
Since our launch, we have successfully passed an audit with techrate and have begun the application process for exchange listings.
Currently, we are building partnerships with organizations and influencers who can help Charitas gain awareness and recognition is not only the crypto community, the outside world as well.
Just yesterday we announced a partnership with Doctor and Instagram influencer @runandlift who will be working with Charitas in the very near future.
And today, I am pleased to announce that we will also be working with an individual who has previously been sponsored by Bitcoin Cash and Dash. He is a crypto enthusiast and truly believes in the vision of Charitas.
Former UFC welterweight number one contender and Bellator champion; Rory MacDonald.
These partnerships are important to grow our impact in our early operations.
Q6. What is the plan CHARITAS to ensure sufficient liquidity on exchanges to fill market orders, especially as adoption increases and clients begin multiplying year-over-year ?
~Steven Le Piane
In order to raise the liquidity needed for massive adoption, we are already in discussion with our lawyers about the implications and ability to offer a Simple Agreement for Future Tokens and raise funds from the developer tokens that we have locked. Of course, this is still in talks and we will only explore this avenue if necessary for listing on the largest exchanges.
Questions asked on Twitter for Charitas team
Q1 From Twitter username @JODAsf
How does the Charitas liquidity fund work, what are the measures you have in place to prevent the price of the Token from falling?
~Steven Le Piane
Charitas’ smart contract protocol puts 1% of each transaction into a liquidity pool wallet that sells half the CHAR tokens and auto pairs them and puts them in the LP. At our pre-sale, we locked 73.5BNB that will only be unlocked in April 2024. We also promote holding through marketing the 1% redistribution per transaction. But most of all we realize that the only way to prevent the price falling is by continuing to do good in the community, by partnering with honest and respectful individuals that alight without brand and vision of helping the world and promoting the usage of cryptocurrencies to fund charity projects.
Q2 From Twitter username @JODAsf
How secure is the CHARITAS protocol, can you tell us about the methods you implement to guarantee security?
We are confident that our project is very secure. We got our token contract audited by a 3rd party and we passed all tests. As a dev team, we ensured all communications were secured. I built an in-house server for file testing, storing, and sharing. Verbal communication was either face-to-face or through services with end-to-end encryption. all of our work computers run Arch Linux with PGP encryption to ensure no data leaks happen.
We also plan on sponsoring Hackathons to help us better understand the changing ecosystem we’re in. We also plan to periodically bring in people experienced in pen-testing to ensure that our dApp will be secure.
Q3 From Twitter username @Afran145
Security and reliability are the factors that are most concerned by users in the blockchain system. Where is project transparency reflected?
Looking at our whitepaper you will find links to all the dev wallets locked in a smart contract since pre-sale (we are adding screenshots of the lock dates). Our LP is locked and is currently managed automatically. All charity funds, receipts, and spending can be linked back through transaction IDs. We are a team that wants our community to test us and ask questions because ultimately what we are doing is ambitious. We need the community’s input to continually push us to do better and be better.
Q4 From Twitter username @OnePlus1578
Are you planning to burn or buy back any tokens from the market in the future? Do you have such programs?
Token burns happen automatically every transaction because some tokens go straight to our burn wallet, however, we are expecting fully to burn excess dev tokens should we not reach our milestones or should it be required for the success of this project.
Q5 From Twitter username @EbrahimKholil42
As an individual user, in what ways can I contribute to project growth? Do you have an ambassador program and what are its benefits?
~Steven Le Piane
What a great question! Being a Charitas ambassador is simple and can be accomplished in various ways.
Our social media communities can always use love and attention. Drop-in and say hi. Talk and interact (upvote, like, retweet) with our various platforms. Even if you do not directly invest in Charitas does not mean that your little impact won’t help us spread our influence and build a better worldwide network. Tell your friends about us. Or tell your favorite charity to reach out to firstname.lastname@example.org — Don’t forget. Every transaction will end up helping those in need.
Also, we are putting together an ambassador program outside of our current 500$ GLEAM campaign :) more information to come!
For information about our Gleam campaign you can click here:
Questions asked by our 404 Daily Crypto community members during live Session to Charitas team
Q1 From Telegram username @mooonsade
How important is the community to you? and how can we collaborate or help you for the development of the project?
The community is very important as our vision revolves around having the community become the ultimate governance of the protocol and charitable initiatives.
Even now was the DAO is in development, we regularly hold polls on telegram to allow the community to decide which charities will receive donations.
Our decision-making includes the best interest of the community in mind.
In our telegram, we are regularly active and try to answer everyone’s questions as often as possible.
We are always listening to them and ready to make any changes necessary that the majority agrees to. As long as it is in the best interest of the longevity of the project.
At the same time, the community is very important for us to grow. We must rely on the community to help create awareness of what charitas is and how it can help change the world for the better.
Q2 From Telegram username @Dogleae
Do you have any plans for HACKATHON to check the safety of your ecosystem regularly and also invite developers to build your project?
We do have plans for Hackathons to help us better understand the environment we are in. We also plan to periodically invite pen-testers to help maintain the security of our project. Having an extra pair of eyes always helps to catch anything we may have missed.
Q3 From Telegram username @cob_ba_ba
Many projects have launched NFTs to attract investors, what is your view on NFT?
We’ve discussed the ability to launch our own NFT platform. However, this isn’t a priority at the moment.
With regards to NFT, we are currently speaking with several known digital artists to collaborate on charitable NFT auctions which will both raise money for charity while exposing Charitas to new investors.
2 more answered question unfortunately has been deleted by those members itself, so we can’t put on this recap.
Closing words from our guest to 404 Daily Crypto Community
~Steven Le Piane
Thank you for your time. it was a pleasure to join your community and please do not hesitate to write to us directly if you have any questions!
Thank you for having us!
Please feel free to join our telegram and Twitter to stay up to date with what we are doing.
Our dev team and amazing admin team are always active to answer your questions!
Thank you for the opportunity for this AMA. We love addressing any questions or concerns the community might have.
Here are some important links of Charitas
TELEGRAM GROUP: https://t.me/charitasfund
TELEGRAM CHANNEL: https://t.me/CharitasAnnouncements